Yelp Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. The company reported Q4 net revenue of $362 million, an increase of 5.7% year-over-year, surpassing analysts' expectations of $350.7 million. GAAP profit was $0.62 per share, exceeding consensus estimates by 17.9%.
The growth was primarily driven by the Services segment, which continued its strong performance. For the full year 2024, Yelp expects net revenue to be around $1.48 billion.
Management highlighted the success of its product-led strategy and ongoing investments in AI-driven innovations. These initiatives aim to enhance the user experience and provide greater value to local businesses, particularly within the expanding Services categories.
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